Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system
Background: An investigational drug service (IDS) has a foundational role in ensuring the safe and efficient management of investigational drugs. The objective of this assessment is to determine economic value of an IDS within a Veterans Affairs health care system. Methods: This assessment was a sin...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2019-06-01
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| Series: | Contemporary Clinical Trials Communications |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2451865418302011 |
| _version_ | 1819080146319048704 |
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| author | Jamie N. Brown Frank Tillman, III Sherin Jacob Sara R. Britnell |
| author_facet | Jamie N. Brown Frank Tillman, III Sherin Jacob Sara R. Britnell |
| author_sort | Jamie N. Brown |
| collection | DOAJ |
| description | Background: An investigational drug service (IDS) has a foundational role in ensuring the safe and efficient management of investigational drugs. The objective of this assessment is to determine economic value of an IDS within a Veterans Affairs health care system. Methods: This assessment was a single-center retrospective record review. Study protocols managed by the IDS over a 2-year period were evaluated for cost avoidance, revenue, and waived revenue. Cost avoidance was defined as the cost savings generated when a research subject received sponsor-provided treatment in place of a therapy that would have been otherwise funded by the institution. Revenue from fees charged to investigators and waived revenue based on the standardized IDS fee schedule were also totaled. The total economic value to the institution accounted for the personnel costs of the IDS. Results: Twenty-three investigational study protocols managed by the IDS resulted in economic outcomes. The total cost avoidance during the two-year period was $482,627.33. The total revenue and waived revenue associated with the IDS was $16,822 and $54,200, respectively. Oncology protocols had the highest contribution to the outcomes of cost avoidance and revenue and mental health protocols had the highest contribution for waived revenue. The overall economic value of the IDS to the institution was $393,649.33. Conclusions: Over a two-year period, the IDS demonstrated a substantial economic value that was largely driven by cost avoidance. Revenue generation from fees charged to investigators and cost savings to the investigator through waived revenue also contributed economic benefits to the institution. Keywords: Pharmacy, Research pharmacist, Pharmacoeconomics, Cost avoidance, Cost savings, Clinical research |
| first_indexed | 2024-12-21T19:40:15Z |
| format | Article |
| id | doaj.art-c39039876e054242b005a88177b1694f |
| institution | Directory Open Access Journal |
| issn | 2451-8654 |
| language | English |
| last_indexed | 2024-12-21T19:40:15Z |
| publishDate | 2019-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Contemporary Clinical Trials Communications |
| spelling | doaj.art-c39039876e054242b005a88177b1694f2022-12-21T18:52:29ZengElsevierContemporary Clinical Trials Communications2451-86542019-06-0114Economic outcomes associated with an investigational drug service within a Veterans Affairs health care systemJamie N. Brown0Frank Tillman, III1Sherin Jacob2Sara R. Britnell3Durham Veterans Affairs Health Care System, 508 Fulton Street (119), Durham, NC, 27705, USA; Corresponding author. Pharmacy Service (119), Durham VA Medical Center, 508 Fulton St., Durham, NC, 27705, USA.Durham Veterans Affairs Health Care System, 508 Fulton Street (119), Durham, NC, 27705, USA; University of North Carolina Eshelman School of Pharmacy, 301 Pharmacy Lane, Chapel Hill, NC, 27599, USADurham Veterans Affairs Health Care System, 508 Fulton Street (119), Durham, NC, 27705, USADurham Veterans Affairs Health Care System, 508 Fulton Street (119), Durham, NC, 27705, USABackground: An investigational drug service (IDS) has a foundational role in ensuring the safe and efficient management of investigational drugs. The objective of this assessment is to determine economic value of an IDS within a Veterans Affairs health care system. Methods: This assessment was a single-center retrospective record review. Study protocols managed by the IDS over a 2-year period were evaluated for cost avoidance, revenue, and waived revenue. Cost avoidance was defined as the cost savings generated when a research subject received sponsor-provided treatment in place of a therapy that would have been otherwise funded by the institution. Revenue from fees charged to investigators and waived revenue based on the standardized IDS fee schedule were also totaled. The total economic value to the institution accounted for the personnel costs of the IDS. Results: Twenty-three investigational study protocols managed by the IDS resulted in economic outcomes. The total cost avoidance during the two-year period was $482,627.33. The total revenue and waived revenue associated with the IDS was $16,822 and $54,200, respectively. Oncology protocols had the highest contribution to the outcomes of cost avoidance and revenue and mental health protocols had the highest contribution for waived revenue. The overall economic value of the IDS to the institution was $393,649.33. Conclusions: Over a two-year period, the IDS demonstrated a substantial economic value that was largely driven by cost avoidance. Revenue generation from fees charged to investigators and cost savings to the investigator through waived revenue also contributed economic benefits to the institution. Keywords: Pharmacy, Research pharmacist, Pharmacoeconomics, Cost avoidance, Cost savings, Clinical researchhttp://www.sciencedirect.com/science/article/pii/S2451865418302011 |
| spellingShingle | Jamie N. Brown Frank Tillman, III Sherin Jacob Sara R. Britnell Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system Contemporary Clinical Trials Communications |
| title | Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system |
| title_full | Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system |
| title_fullStr | Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system |
| title_full_unstemmed | Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system |
| title_short | Economic outcomes associated with an investigational drug service within a Veterans Affairs health care system |
| title_sort | economic outcomes associated with an investigational drug service within a veterans affairs health care system |
| url | http://www.sciencedirect.com/science/article/pii/S2451865418302011 |
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